Community-governed DEX EmiSwap raises $104M in private funding

Community-governed DEX EmiSwap raises $104M in private funding


EmiSwap — a community-governed decentralized exchange (DEX) — has raised $104 million from a large number of investors, each of whom put down a maximum sum of $25,000 each. 

Backers of the exchange, which runs as a decentralized autonomous organization, include Carl Moon, Box Mining, Edna, TMM Holdings’ Jason D, Hodl.global, ExNetwork Fund, and Inclusion Crypto Fund.

EmiSwap describes itself as a gamified and decentralized automated market maker exchange. Automated market makers -based exchanges do not rely on order books like regular exchanges but instead use mathematical formulas to price assets. They also provide liquidity from multiple pools and use smart or peer-to-peer contracts for trading.

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EmiSwap’s offer to investors, in addition, is a full refund on Ethereum gas fees. In Q3 of this year, it also plans to launch non-fungible token cards — called NFT Magic Cards — as a gamified mechanism that aims to draw in more users. The platform’s strategy also includes offering rewards to incentivize liquidity providers and swappers, providing

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